For generations, the great Australian dream of owning your own home was a given. But now Australians under 30 are the generation which has had the home ownership door slammed in their face.
House prices have risen so quickly (more than 60 percent from 2015-2022) they have vastly outpaced wages growth. Even if young people can scrape together a deposit — many can't — repayments are prohibitive.
As a result around two-thirds of young people are giving up on home ownership completely while older generations, who bought in their 20s and benefited from the real estate boom of the 2000s, can accumulate even more.
